(cont) So if oil is to ideally be kept 'scarce' and expensive, why are they allowing the current oil glut and low oil price
? Some likely factors include -
1) To put pressure on Russia, to supplement other sanctions that have been imposed by the US/West.
2) Ramping up US domestic production in preparation for the day when the petrodollar system ends. Most global oil sales are still transacted in dollars, but this system is fraying, and won't be needed anyway once the transition to SDRs occurs. So US domestic oil/gas production is being steadily ramped up in anticipation of the day the petrodollar ends and the SDR system begins.
3) The world economies have been slowing, especially China, which reduces demand for oil, and this is occurring in the face of rapidly increasing oil supply from the US, and Russia's oil output from Siberia (see article in next post).
